Virtus Equity & Convertible Income Fund (NYSE:NIE) Short Interest Update

Virtus Equity & Convertible Income Fund (NYSE:NIE) saw a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 31,100 shares, an increase of 84.0% from the March 15th total of 16,900 shares. Based on an average daily volume of 70,100 shares, the short-interest ratio is presently 0.4 days.

Hedge Funds Weigh In On Virtus Equity & Convertible Income Fund

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Baird Financial Group Inc. lifted its stake in Virtus Equity & Convertible Income Fund by 1.5% during the fourth quarter. Baird Financial Group Inc. now owns 26,287 shares of the company’s stock worth $648,000 after purchasing an additional 400 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Virtus Equity & Convertible Income Fund by 29.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,881 shares of the company’s stock valued at $66,000 after buying an additional 650 shares during the last quarter. PFG Investments LLC raised its stake in Virtus Equity & Convertible Income Fund by 4.7% during the 4th quarter. PFG Investments LLC now owns 14,779 shares of the company’s stock worth $364,000 after acquiring an additional 668 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its position in Virtus Equity & Convertible Income Fund by 2.1% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 46,937 shares of the company’s stock valued at $1,157,000 after acquiring an additional 985 shares during the last quarter. Finally, Cornerstone Wealth Management LLC boosted its stake in Virtus Equity & Convertible Income Fund by 5.1% in the fourth quarter. Cornerstone Wealth Management LLC now owns 23,681 shares of the company’s stock valued at $584,000 after acquiring an additional 1,148 shares in the last quarter.

Virtus Equity & Convertible Income Fund Stock Performance

Shares of NYSE NIE traded up $0.15 during midday trading on Friday, hitting $20.82. The stock had a trading volume of 47,822 shares, compared to its average volume of 65,724. The stock has a 50 day simple moving average of $22.56 and a 200-day simple moving average of $23.58. Virtus Equity & Convertible Income Fund has a 1 year low of $18.54 and a 1 year high of $25.44.

Virtus Equity & Convertible Income Fund Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Thursday, June 12th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 9.61%. The ex-dividend date is Thursday, June 12th.

About Virtus Equity & Convertible Income Fund

Virtus Equity & Convertible Income Fund is a closed ended equity mutual fund launched and managed by Allianz Global Investors Fund Management LLC. The fund is co-managed by Allianz Global Investors U.S. LLC. It invests in the public equity markets of the United States. The fund invests in stocks of companies operating across diversified sectors.